CJ CGV, Korean Cinema Exhibition Giant, Seeking $800 Million Capital Injection

Patrick Frater Asia Bureau Chief Lee Yong-kwan, one of the original founders of the Busan International Film Festival, says he is stepping down as the event’s chairman – this time with immediate effect. He says the move is intended to defuse a morass of factional infighting and political interference surrounding Asian’s most prominent film festival. A festival spokesman told Variety that the board of directors “has decided to persuade the chairperson to return. So, the resignation has not been accepted yet.”

Patrick Frater Asia Bureau Chief Some 18 film industry guilds and trade associations are calling for urgent structural reform of the Busan International Film Festival. They point out that this year’s edition of the festival is looming less than 100 days away. The festival’s management has made a succession of management missteps in recent weeks, including one that resulted in an official apology. At the beginning of May, a decision to split the festival’s senior management in two by creating a new position for Cho Jongkook, was followed by consternation among guilds and the resignation of festival director Huh Moonyoung.

Patrick Frater Asia Bureau Chief Chinese mystery drama “Lost in the Stars” was the top-grossing film on the planet over the latest weekend – despite playing only a single territory. The film earned $70.7 million (RMB502 million) between Friday and Sunday in mainland China, according to data from consultancy Artisan Gateway. That put it far and away ahead of other Chinese new releases and Hollywood’s holdovers “Transformers: Rise of the Beasts” and “The Flash.” With the Dragon Boat Festival holiday occurring on Thursday, the film was given an unusual one-day advance on the normal releasing pattern in China. Including Thursday takings, the film made a total of $98.3 million (RMB968 million).

A week of studio presentations and discussions, as well as chatter in the halls, at the CineEurope exhibition conference in Barcelona provided some interesting takeaways about the state of cinema and its future. The mood was generally optimistic, but concerns, and room for improvement, remain.

The viability of South Korea’s KBS is under threat due to government plans to alter its funding mechanism, according a public service media advocacy group.

AleXa has spoken out on the hate she has received has a half-Korean K-pop idol.In a recent livestream, as archived by fans on TikTok, AleXa opened up about being called the “White girl idol”. The singer also touched on how she feels she is treated differently from other half-Korean K-pop idols such as SEVENTEEN‘s Vernon, former MOMOLAND member Nancy and ex-I.O.I singer Jeon Somi.“Is it because I’m American that people choose to treat me differently and that I didn’t grow up in Korea?” AleXa said during the livestream.

During a three-day visit to Seoul, Netflix co-CEO Ted Sarandos said the streamer is fairly compensating producers and nurturing new talent, after calls from some local lawmakers and industry figures for more profit-sharing with creators. 

committed to invest US$2.5billion on new South Korean TV shows and films.“[Korean content] is very often unpredictable and catches the American audience by surprise,” Sarandos said at the event, per Variety. “I think what’s brilliant is to see film, unscripted and series all grow according to the interests of our Korean audience.”He added that “great stories can come from anywhere and be loved anywhere [and] nowhere has this proven more true than here in Korea”, per Yonhap News Agency.Over the past two years, Netflix has released a number of hit Korean series and films, from the global phenomenon Squid Game, to the thrilling revenge series The Glory, to the reality TV series Single’s Inferno.Sarandos added that 60 per cent of all Netflix subscribers have watched at least one Korean title, while viewership of Korean content is up sixfold over the past half decade.During the event, the Netflix co-CEO also spoke about how the company is looking to use its US$2.5billion investment plan to “grow the industry” in Korea.

Rebecca Souw There’s more to Korean TV than a greenlit second season of “Squid Game” and Ted Sarandos, Netflix co-CEO, shed new light on what’s making the “Korean wave” worthy of large-scale commitment. After meeting with leading helmer Park Chan-wook (“Oldboy” and upcoming series “War and Revolt”) and 100 film students a day earlier, Sarandos on Wednesday held a public forum at Seoul’s Four Seasons Hotel on the future of Korean content. The abundant glad-handing follows a public commitment made in April to spend $2.5 billion on original Korean content over the next four years. “[Korean content] is very often unpredictable and catches the American audience by surprise,” said Sarandos at the event. “I think what’s brilliant is to see film, unscripted and series all grow according to the interests of our Korean audience.”

Korean opera singer Choi Sung-bong, who has died at the age of 33. Korean Police believe he apparently died by suicide, according to the Yonhap news agency. Having shot to fame on Korea’s Got Talent, he went on to establish a successful singing career which made him famous in his homeland and beyond.

Jessica Simpson spent some time with the legendary Bernie Taupin over the weekend!

Lionsgate President of International, Helen Lee-Kim, opened the studio’s CineEurope presentation this afternoon in Barcelona with a shoutout to exhibition for its part in helping build the John Wick franchise that’s taken in over $1B globally. With John Wick: Chapter 4 now at $430M and still going, Lee-Kim also highlighted Ballerina, the spinoff that hits cinemas next year starring Ana de Armas. 

Paramount+ crime-thriller Bargain, Prime Video’s absurdist comedy I’m a Virgo and Greek infertility dramedy Babython were among the awards series winners at last week’s Seriencamp in Germany.

Naman Ramachandran Paramount+ and Tving‘s Korean series “Bargain” has won the critics’ choice award at the Serien Camp Festival in Cologne. In April, “Bargain” became the first-ever Korean series to win best screenplay at the Canneseries Festival in France. The series stars actors Jun Jong-seo (“Money Heist: Korea”) and Jin Seon-kyu (“Extreme Job”) and is an adaptation of director Lee Chung-hyun’s 2015 short film of the same name. Director Jun Woo-sung, who was part of the production team of the short, picked up the story and developed it into a six-part series. “Bargain” revolves around a group of strangers who gather at a remote motel with ulterior motives – seeking to bargain. Unlike the original film, the series follows the characters after an unexpected earthquake traps them inside the building. With no one to trust, they must find a way to survive.

Patrick Frater Asia Bureau Chief Korean blockbuster “The Roundup: No Way Out” suffered a 50% week-on-week decline, but it was still strong enough to see a pair of Hollywood newcomers. The third part of the Don Lee-starring Roundup franchise, “No Way Out” earned $5.16 million between Friday and Sunday, according to data from Kobis, the tracking service operated by the Korean Film Council. It accounted for a 42% share of the market and attracted 650,000 additional spectators.

A New Wave of K-Cinema: Korean Women Directors,” The Academy Museum of Motion Pictures is hoping to change that. Across the month of June, the Los Angeles museum is showing 10 contemporary Korean films made by women that “explore the complexities of diverse conditions, including the trauma of domestic violence, investigations into gender and class politics, humanity’s relation to nature and the environment, and love and friendship.” Hyesung ii, who organized “A New Wave of K-Cinema,” told TheWrap it is a series she has had in mind since she began working at the museum.

Patrick Frater Asia Bureau Chief “Killing Romance,” one of the most creative Korean films of the past year, has been set as the opening night title for the upcoming New York Asian Film Festival. The deliberately multi-genre picture tells the tale of a beautiful movie star with dubious acting skills (portrayed by Le Ha-nee) who suddenly quits the industry and retires to newly-married life that turns out to be anything but bliss. When she decides to return to acting she teams up with a fan and an absurd plot to kill her absurdly rich husband. The film is directed by Lee Won-suk who previously attended the NYAFF with his first film, “How to Use Guys With Secret Tips,” in 2013 and returned with his second feature, the big-budget period drama The Royal Tailor, which earned the audience award at NYAFF in 2015.

Welcome to Global Breakouts, Deadline’s fortnightly strand in which we shine a spotlight on the TV shows and films killing it in their local territories. The industry is as globalized as it’s ever been, but breakout hits are appearing in pockets of the world all the time and it can be hard to keep track… So, we’re going to do the hard work for you.

Physical: 100 will return for a second season.Physical: 100 is a survival show where a hundred men and women with well-developed physiques compete in various challenges to determine the one contestant with the “perfect” physique. The first season debuted in January 2023 and became Netflix’s first unscripted show to top the streamer’s list of most-popular non-English TV programs.In a press release today (June 14), Netflix confirmed that Physical: 100 has been renewed for a second season and will feature a new group of 100 contestants.

Physical: 100, which made history earlier this year by becoming the first unscripted show to top Netflix’s weekly ranking for non-English TV programs, has been picked up for a second season.